October 27, 2020, Sorrento Therapeutics, Inc. (the "Company") reported voluntarily terminated that certain Common Stock Purchase Agreement (the "Purchase Agreement"), dated April 27, 2020, by and between the Company and Arnaki Ltd. (the "Purchaser") (Filing, 8-K, Sorrento Therapeutics, OCT 27, 2020, View Source [SID1234569121]). Pursuant to the Purchase Agreement, the Purchaser had committed to purchase up to an aggregate of $250.0 million of shares of the Company’s common stock over the 36-month term of the Purchase Agreement on the terms set forth therein. The Purchase Agreement was terminable at will by the Company with no penalty.

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